Dear Mr. Sinclair,
A UNIQUE and SERIOUS one down for the count….
Warm regards,
CIGA Annette
Silverton Failure Spurs Fears of Fallout
American Banker | Friday, May 1, 2009
By Joe Adler
The failure, the first ever of a bankers’ bank and the industry’s 30th this year, created a new wrinkle in the disastrous fallout from the housing crisis hitting the Southeast. Silverton was the largest of the six banks that have failed in Georgia this year.
WASHINGTON — The failure of Silverton Bank of Atlanta on Friday presents new worries to institutions that have relied on the $4.1 billion-asset bankers’ banks and others like it, observers said.
Silverton, whose operations were folded into a bridge bank formed by the Federal Deposit Insurance Corp., leaves behind over 1,000 bank customers that used its services, as well as 400 bank stockholders and other institutions that participated in loan deals Silverton originated.
"This is going to have an effect on all the downstream participant banks they sold those participations to," said Ralph MacDonald 3rd, a partner at Jones Day in Atlanta.
The failure, the first ever of a bankers’ bank and the industry’s 30th this year, created a new wrinkle in the disastrous fallout from the housing crisis hitting the Southeast. Silverton was the largest of the six banks that have failed in Georgia this year. Eleven Georgia banks have gone down since the start of 2008.
It also raises questions about whether regulators should have done more to rein in Silverton. It became a national bank almost two years ago, shortly after it began an aggressive expansion into national markets and started pushing construction and development loans. That $1 billion portfolio helped spell the bank’s downfall, regulatory officials said.
Dear Friends,
My feeling is always that the best help you can be to a Patriot is to fall in beside her with arms and say you are not alone.
I believe in giving business to the worthy, support to the worthy and whatever I am to her.
Therefore if you agree with her work, send business her way, whatever it is. Don’t sit on a log and expect others to do what you should do.
There is nothing more cowardly than the vocal patriot that hides the moment the shooting starts. Damn them anyway! They are worse than the opposition because they are false.
Many wrote me concerning the recent public attack on me, but how many of you wrote to the boss of the attacker with the outrage your mentioned to me? The sorry answer is less than 1/64th of 1% of my readers.
The following is a priceless education given to you free of charge from a true ADVOCATE of the ABUSED. Failing to support her shows your support of the banksters.
This does not facilitate running away from obligations. It facilitates the equitable person paying a fair amount on a comfortable time schedule. Neither she nor I would have it otherwise.
Regards,
Jim
Good morning, All,
…and thank you for your interest in my statement below which is excerpted from a message I wrote to Jim Sinclair, a well respected precious metals specialist and a commodities and foreign currency trader who is an authority on Gold, and a courageous patriot. (http://jsmineset.com)
Today, I am in Boston which is 90 miles north of where I live and work. I am here on a mission to further my investigation of the three foreclosure cases now before the Massachusetts Land Court, two of which the Judge has voided as a matter of law because the entity bringing the foreclosure was not the “real party in interest.”
When I learned of this decision, I contacted the Judge’s clerk to request a cleaner copy for my files and learned that a Motion to Vacate hearing was scheduled three days hence. I wanted to be certain that the Judge would not be persuaded to overturn his own orders and told the Clerk that I knew Judge Long was right for more reasons than he presently realized. I asked if there was any way that I could intervene as a Friend of the Court and file an Amicus Affidavit and Analysis to support the Judge’s position.
The clerk checked with Judge Long and advised that would be okay as long as I did so by Motion and understood that he might not be able to use my work because the evidence had already come in through the underlying cases.
I worked tirelessly for the next three days and produced a 1” thick, three-ring binder containing my analysis of each of the three cases. For your reference, I have attached the Judge’s Memorandum Decision, my Motion and Affidavit, and my work product on the Ibanez case. I found that in two of the three loans, those loans were not even in the Trust fund!
For the first time in human history, I have put before the Court the inner workings of the securitization mechanism which will reveal the Truth that virtually every foreclosure in the country that involves a securitized loan is illegal; moreover, every court in the nation in every jurisdiction – state, federal and bankruptcy is being defrauded as the Banksters use the judicial system to launder their ill-gotten gains and cover up their criminal activities.
Judge Long took my binder home over that weekend and on Monday, April 21st he issued a Notice of Docket Entry containing instructions… and a warning… to the Plaintiffs’ counsel. Without a question, I have already influenced this debate as the Judge is now asking to see the securitization documents that I told him (in my affidavit) were essential to adjudicate these cases.
I am a single practitioner who has taken on way too many pro bono cases this year because of the value of the cases and because the people I help are worthy. (See last week’s New York Times involving my clients in Seattle: http://www.nytimes.com/2009/04/24/business/24mers.html?_r=2&ref=business)
It would be a godsend to me now to receive financial assistance from non-profits, or donations from others who have some spare change. The templates I am developing, once perfected and systemized, can be used everywhere to fight wrongful foreclosures and restore justice.
One of Jim Sinclair’s devotees here in Massachusetts contacted me to ask if I would prepare a seminar for the accountants and attorneys he trains through his CLE courses. I will be meeting with him tomorrow.
I’m working on getting a website up and running so that I can keep people posted on my progress with the Land Court cases and other important matters. I have been trying to stay under the radar screen, but my friend Jim Sinclair has convinced me that it is time for my light to shine. God bless him!
I hope that you find the attached helpful.
With kind regards,
Marie
Marie McDonnell
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analysts
Marie.McDonnell@truthinlending.net
Click charts to enlarge in PDF format
Jim,
"The COT is very short of gold and needs to make their cover. Cover they will as you get your pockets picked one more time. The COT will then undoubtedly shift to the long side before June and jam the royal metal up."
The fear of the COT flipping the trap door over the elevator shaft has gold investors nervous. They are likely still shell-shocked from the D wave decline during September and November 2008.
A to B transitions, however, are more characterized by a series of smaller beatings rather than the classic elevator shaft method. I have spot shadowed the last two A to B transitions. The violence of the C to D wave transition is replaced by something more akin to bouncing along the floor. Expect this bouncing to be more aggressive as volatility expands with each iteration of the ABCD cycle.
http://www.facebook.com/photo.php?pid=1583332&l=a9f4dab9e8&id=557304509
Surprisingly, it doesn’t take too much for the bullion banks to reverse their net exposure. Dan and I have talked about this before, but they often use spreads to temporarily release the market in a given direction. I wouldn’t be completely surprised to see the market make another run at 1000 in May using such a tactic.
I’ll keep you posted. Going to crunch more data.
CIGA Eric
Dear Jim,
I have never seen a budget so large! It looks like your Formula hits another home run out of the park and it also seems like a lot of headlines in the news are explained by it.
More spending will lead to a higher final gold price.
Best,
CIGA BT
Congress approves $3,400bn budget
By Andrew Ward in Washington
Published: April 30 2009 03:06 | Last updated: April 30 2009 03:06
Congress on Wednesday passed a $3,400bn budget resolution that laid the foundation for healthcare reform and a series of other Democratic policy goals, handing President Barack Obama a key victory on his 100th day in office.
The plan sailed through the House and Senate with overwhelming Democratic support but not a single Republican backed the measure, highlighting deep partisan division over a budget that would sharply increase government spending and expand the national debt.
The budget resolution is a nonbinding blueprint and more tough debate remains ahead before the plan is fleshed out in final appropriations and taxation legislation over the summer.
